Reports on Metals: Southern Copper Corp (SCCO)’s Copper Mines, Freeport-McMoRan Copper & Gold Inc. (FCX) Price Traget, Rio Tinto plc (ADR) (RIO) & Mount Hillalong Project

Editor’s Note: Southern Copper Corp (NYSE:SCCO), Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX), Rio Tinto plc (ADR) (NYSE:RIO)

Southern Copper Putting Final Touches on Tia Maria Study – Report (4-traders)
LIMA, Peru–Base metals mining company Southern Copper Corp (NYSE:SCCO) is putting the final touches on a new environmental impact study for its stalled Tia Maria copper mine and could start construction there in the first part of next year, company president Oscar Gonzalez Rocha said. In an interview published in newspaper El Comercio on Monday, Mr. Gonzalez Rocha also said the company could start construction on its project to increase production at the Toquepala copper mine next year. He said that those two projects aim to increase the company’s output of copper in Peru to 540,000 tons annually from the current 320,000 tons.

Deutsche Bank Wins Metals and Mining Analyst Scorecard (24/7 Wall St.)
These were the contrarian stocks we covered back on July 1, 2013. We would note that consensus price targets have changed since then as well. Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) was shown by Deutsche Bank with a $40 price target and the Thomson/First call estimate was at $38. that 4.5% dividend stood out at the time. At the time its stock was at $27.30 and shares are up 13% now that the stock is up at $30.85. The stock’s 52-week range is $26.37 to $43.65 and the current consensus price target is $36.06 rather than $38 when Deutsche bank nailed it.

Rio Tinto plc (ADR) (NYSE:RIO) (LSE:RIO)

Mining Roundup: Rio Tinto and Australian Pacific Coal Start Drilling at JV Project (iNVEZZ)
UK-based mining major Rio Tinto plc (ADR) (NYSE:RIO) and Australian Pacific Coal have commenced the exploration programme on their Mount Hillalong joint venture project located in Australia’s Bowen Basin. Australian Pacific Coal yesterday said in a press release that the project, which it described as “a milestone event” for the company followed a JV deal signed by the parties earlier this month. The UK-based miner has advised Australian Pacific Coal of a detailed drilling and seismic programme which will be implemented on targets that have already been identified in preparation for this programme. Under the terms of the deal, Rio Tinto plc (ADR) (NYSE:RIO) 24 months to conduct the exploration of the Mount Hillalong site.

NYSE Decliners Watch List: Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) and Petr (NYSE:PBR) Added to Equity Profile Report’s NYSE Decliners Watch List. (SBWire)
Equity Profile Report expands its NYSE Decliners Weekly Watch List adding Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) and Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR). Freeport-McMoRan Copper & Gold Inc. a company that engages in the exploration of mineral resource properties is currently down (-2.73%) on 9,504,255 shares traded. Freeport-McMoRan Copper & Gold Inc. is currently down (-29.76%) from its recent 52-week high which has prompted Equity Profile Report to add the stock to their NYSE Decliners Watch List.

The Big Australian should strike a deal with Rio Tinto (Herald Sun)
Although the aluminium, manganese and nickel division generated more than $9 billion of revenue, it contributed just $164 million of EBIT (earnings before interest and tax). Compare and contrast that with the jewel in the BHPB crown – iron ore, which on a little more than double that revenue, at $20 billion, contributed more than 67 times as much EBIT, or $11.1 billion. Incidentally, I never – and I’m equally certain, neither would most other commentators – have ever thought, in the good old days pre-China, that we’d end up describing lumpy, plentiful, iron ore as the ‘jewel” in anyone’s crown. That it is, certainly in the corporate crowns of BHPB and Rio Tinto plc (ADR) (NYSE:RIO). It’s also made multi-billionaires of Gina Rinehart and Andrew Forrest.

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The 10 Countries with the Highest Suicide Rates

The 10 Most Technologically Advanced Countries in the World

The 10 Safest Countries in the World to Live in Peace

The 10 Top Selling Smartphones in the World 2014

The 12 Biggest Shopping Centers in the World

The 10 Friendliest Countries in the World

Qihoo 360 Technology Co Ltd (QIHU), Actavis plc (ACT), Yahoo! Inc. (YHOO) Among 20 Long Ideas from Sohn Canada

The 10 Laziest Countries in the World

The 10 Most Polluted Countries in the World

The 10 Most Dangerous Cities in America 2014

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!